SB has officially launched the Single Buyer governance documents during the one-day Inaugural Ethics and Compliance Seminar held on 16 May 2017 in KL. The launch was intended to reinforce the ring fencing and to create awareness among staff of SB. It was officiated by the Head of SB, Mr. Charanjit Singh Gill.
During the Seminar, SB launched three governance documents which are the Ring Fencing Guidelines, SB Operations Manual and SB Code of Conduct. The aforesaid launch was done in response to the SB Compliance Audit in 2016 by Ernst & Young and ESB International.
Apart from these three documents, SB is also governed by the Electricity Supply Act 1990 (Amendment 2015) (Act 447) (“ESA”), Energy Commission Act 2001, Malaysian Grid Code, Malaysian Distribution Code, Licenses issued by the Energy Commission under the ESA, Generator Contracts, Code of Ethics, Limits of Authority, SB Rules and NEDA Rules.
In the opening address, SB Top Management urged all employees of SB to comply with all the documents that govern SB operations. In conjunction with the launch, the Seminar also witnessed the signing of Conflict of Interest Declaration by all SB staff. This is in line with the requirements stipulated in the SB Code of Conduct.
The establishment of the Single Buyer governance documents as well as the Conflict of Interest Declaration portray SB’s full commitment in achieving its aspiration to be a transparent, trusted and reputable electricity procurement organization and market operator in the region.
